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Rise in Tampa Bay Home Prices Affirms Real Estate Investment Ranking

The continuous increase in Tampa Bay home prices affirms the Top 10 ranking of the Tampa Bay metro area in the BiggerPockets Real Estate Investment Market Index for 2015.

The Tampa-St. Petersburg-Clearwater metro area ranked No. 6 in BiggerPockets’ list of the Top 10 Best Markets for Real Estate Investors. BiggerPockets analyzed residential price appreciation and rents in relation to property values in the country’s 50 largest metro areas. BiggerPockets is considered the biggest and most active real estate investing community online, with more than 300,000 members.

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The 10 Top Markets for Real Estate Investors for the year 2015, according to BiggerPockets are:

Rank Metro Area Total Return Rate*
1 Dallas, Texas 19.54%
2 Denver, Colorado 18.90%
3 Miami, Florida 18.57%
4 Houston, Texas 18.52%
5 Atlanta, Georgia 16.45%
6 TAMPA, Florida 16.42%
7 Detroit, Michigan 16.17%
8 Austin, Texas 15.62%
9 Las Vegas, Nevada 15.34%
10 Orlando, Florida 14.93%

* Total Return Rate was computed based on home price appreciation and rent-to-value ratio

Median Sale Prices of Single-Family Homes Sold from August 2013 to August 2015

The year-over-year increases in median sale prices of Tampa Bay homes, based on data from the Greater Tampa Association of Realtors (GTAR), were continuous over the two-year period from August 2013 to August 2015, except for the month of May 2014.

Month Median Sale Price % of Price Increase Year-over-Year
August 2015 $175,000 9.4%
July 2015 $176,000 4.7%
June 2015 $180,000 10.9%
May 2015 $175,500 12.5%
April 2015 $170,000 13.3%
March 2015 $166,918 11.3%
February 2015 $154,000 4.4%
January 2015 $145,000 6.4%
December 2014 $162,000 2.5%
November 2014 $160,000 6.7%
October 2014 $159,900 6.6%
September 2014 $159,900 3.2%
August 2014 $160,000 0.0%
July 2014 $168,110 1.9%
June 2014 $162,250 2.4%
May 2014 $156,000 -1.3%
April 2014 $150,000 4.9%
March 2014 $150,000 4.1%
February 2014 $147,500 9.3%
January 2014 $136,250 8.1%
December 2013 $158,000 16.2%
November 2013 $150,000 7.1%
October 2013 $150,000 15.4%
September 2013 $155,000 19.2%
August 2013 $160,000 23.1%

Median Sale Prices of Townhouses and Condos Sold from August 2013 to August 2015

Every month from August 2013 to August 2015, the median sale price of condos and townhouses sold increased year-over-year.

Month Median Sale Price % of Price Increase Year-over-Year
August 2015 $124,600 8.3%
July 2015 $117,000 1.7%
June 2015 $116,000 4.2%
May 2015 $122,000 10.9%
April 2015 $120,000 11.1%
March 2015 $115,000 9.5%
February 2015 $106,400 12.1%
January 2015 $100,000 3.6%
December 2014 $114,000 7.5%
November 2014 $104,250 6.4%
October 2014 $116,000 14.9%
September 2014 $105,500 9.9%
August 2014 $115,000 15.1%
July 2014 $115,000 8.2%
June 2014 $111,281 9.6%
May 2014 $110,000 12.9%
April 2014 $108,000 12.5%
March 2014 $105,000 14.1%
February 2014 $94,950 11.8%
January 2014 $96,500 17.7%
December 2013 $106,069 21.9%
November 2013 $98,000 15.3%
October 2013 $101,000 15.1%
September 2013 $96,000 10.4%
August 2013 $99,950 17.6%

Another favorable indicator for real estate investors in the Tampa Bay metro area is the ratio of sale price to list price. The tables below for single-family homes, condos and townhouses show that over the two-year period, home sellers got much of what they desired. For single-family homes, sellers got nearly 95% of what they wanted over the four-month period from May 2015.

Comparison of Sale Price to List Price for Single-Family Homes Sold from August 2013 to August 2015

Month Average Percent of List Price
Received by Seller
August 2015 94.7%
July 2015 94.4%
June 2015 94.6%
May 2015 94.4%
April 2015 93.9%
March 2015 93.1%
February 2015 92.4%
January 2015 92.5%
December 2014 93.1%
November 2014 92.8%
October 2014 92.8%
September 2014 92.6%
August 2014 93.1%
July 2014 93.2%
June 2014 93.1%
May 2014 93.0%
April 2014 92.4%
March 2014 92.5%
February 2014 92.1%
January 2014 92.7%
December 2013 93.0%
November 2013 93.7%
October 2013 94.7%
September 2013 94.7%
August 2013 94.7%

Comparison of Sale Price to List Price for Townhouses and Condos Sold from August 2013 to August 2015

Month Average Percent of List Price
Received by Seller
August 2015 93.3%
July 2015 93.5%
June 2015 93.4%
May 2015 93.0%
April 2015 92.7%
March 2015 92.3%
February 2015 91.5%
January 2015 91.6%
December 2014 92.0%
November 2014 91.9%
October 2014 92.1%
September 2014 92.3%
August 2014 92.2%
July 2014 92.3%
June 2014 92.0%
May 2014 91.8%
April 2014 91.8%
March 2014 91.4%
February 2014 91.7%
January 2014 92.2%
December 2013 92.8%
November 2013 92.9%
October 2013 93.2%
September 2013 94.1%
August 2013 93.3%

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